Saturday, January 16, 2010

Defense News ~ MARIETTA, Ga., Jan. 15 /PRNewswire-FirstCall/ -- Lockheed Martin (NYSE: LMT) recently inducted its second C-5 Galaxy strategic transport into the Reliability Enhancement and Re-engining Program (RERP) production line at its Marietta, Ga., facility. The RERP modifications consist of more than 70 improvements and upgrades to the C-5 airframe and aircraft systems, and include the installation of new higher-thrust, more reliable turbofan engines."Each RERP aircraft induction is a major milestone for our program. We are making great strides with our first RERP induction and expect to keep up the same productive pace with this aircraft," said Lorraine Martin, Lockheed Martin C-5 vice president. "Every C-5M we produce gives added strength to the U.S. Air Force fleet and the warfighters who protect our country."The C-5M is the product of a two-phase modernization effort. The first, the ongoing Avionics Modernization Program (AMP), provides the aircraft a state-of-the-art glass cockpit with modern avionics and flight instruments. Nearly half of the C-5 fleet has already undergone the AMP modifications. RERP is the second phase of the C-5 modernization effort.The second aircraft to enter the RERP production line is a C-5B based at Dover AFB, Del. This aircraft, U.S. Air Force serial number 85-0002, was first delivered to Travis AFB, Calif., on Sept. 30, 1986, and was stationed there for much of its career, until it moved to Dover. This C-5 Galaxy currently has more than 19,000 flight hours.Current Air Force plans call for Lockheed Martin to deliver 52 C-5Ms (modification of 49 C-5Bs, two C-5Cs, and one C-5A) by 2016. Three C-5Ms, the former Super Galaxy test fleet, have been redelivered to the U.S. Air Force at Dover AFB.Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.

Defense News ~ PORTLAND, Ore., Jan. 15, 2010 (GLOBE NEWSWIRE) -- Precision Castparts Corp. (NYSE:PCP - News) has acquired a 49 percent equity interest in Yangzhou Chengde Steel Tube Co., Ltd. (Chengde).Chengde is a leading manufacturer of seamless, extruded pipe for boiler applications in coal-fired power plants, as well as pipe and tubing for other energy-related applications, such as compressed natural gas. The company operates from one facility with a manufacturing footprint of nearly 6 million square feet, in the Jiangsu Province of China. Chengde has built a leading position in the Chinese boiler pipe market and has begun to make inroads into export markets."Chengde's founder Zhang Huaide has built a very impressive manufacturing operation, and we are excited to partner with him going forward," said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. "The strategic fit of the two companies will provide a long runway for continued earnings growth in PCC's power generation business."Over the past several years, Wyman-Gordon has been a major player in providing large-diameter, interconnect pipe for coal-fired power plants and has built a strong market presence," Donegan said. "However, we lacked the manufacturing capacity for seamless boiler pipe, and we have been forced to walk away from this significant market. Through Chengde, PCC gains immediate access to the boiler pipe market in China, and we will use Wyman-Gordon's distribution capabilities to pull their products around the world. Working together, Wyman-Gordon and Chengde will be a tough team to beat as we continue to attack power generation opportunities worldwide, with a product offering of boiler pipe, interconnect pipe, and fittings. Down the road, we can also use Chengde's processing capabilities to build Special Metals' energy pipe business."The cash acquisition is expected to be immediately accretive to earnings. Under the equity method of accounting, PCC will report its share of Chengde's income on an Equity in Earnings of Unconsolidated Affiliates line in its income statement. Other financial terms were not disclosed.Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power generation, and general industrial markets. PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines. The Company is also a leading producer of highly engineered, critical fasteners for aerospace, and other general industrial markets and supplies metal alloys and other materials to the casting and forging industries.Information included within this press release describing projected growth and future results and events constitutes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results in future periods may differ materially from the forward-looking statements because of a number of risks and uncertainties, including but not limited to fluctuations in the aerospace, power generation, and general industrial cycles; the relative success of the Company's entry into new markets; competitive pricing; the financial viability of the Company's significant customers; the impact on the Company of customer labor disputes; demand, timing and market acceptance of new commercial and military programs; the availability and cost of energy, materials, supplies, and insurance; and the cost of pension benefits and post-retirement medical benefits; equipment failures; relations with the Company's employees; the Company's ability to manage its operating costs and to integrate acquired businesses in an effective manner; governmental regulations and environmental matters; risks associated with international operations and world economies; the relative stability of certain foreign currencies; the impact of adverse weather or natural disasters; the availability and cost of financing; and implementation of new technologies and process improvement. Any forward-looking statements should be considered in light of these factors. The Company undertakes no obligation to publicly release any forward-looking information to reflect anticipated or unanticipated events or circumstances after the date of this document.Precision Castparts Corp.'s press releases are available on the Internet at GlobeNewswire's website -- http://www.globenewswire.com or PCC's home page at http://www.precast.com.

PASADENA, Calif.--January 15, 2010,(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ:TTEK - News) announced today that it has been awarded a Worldwide Environmental Remediation Services (WERS) contract by the U.S. Army Engineering and Support Center, Huntsville (Huntsville Center). The contract is focused on munitions response and other hazardous, toxic, and radioactive waste (HTRW) remediation services. Tetra Tech is one of seven large businesses that were awarded this five-year indefinite-delivery/indefinite-quantity contract, which has a shared capacity of $965 million. Tetra Tech has held predecessor contracts for worldwide unexploded ordnance services since 2000.The WERS contract includes response activities anywhere munitions are or have been stored, evaluated, treated, disposed of, or used for military training and operations.“Unexploded ordnance cleanup is an important part of many remediation programs,” said Dan Batrack, Tetra Tech’s Chairman and CEO. “Tetra Tech is pleased to support the Huntsville Center as it seeks to return lands and waters to safe and productive use. These cleanup activities will help the U.S. Department of Defense achieve its Base Realignment and Closure (BRAC) goals and support the Military Munitions Response Program (MMRP) worldwide.”About the U.S. Army Engineering and Support Center, Huntsville (www.hnd.usace.army.mil)The scope of the Huntsville Center's mission includes a wide range of programs found nowhere else in the U.S. Army Corps of Engineers (USACE). Major programs include chemical demilitarization, environmental and munitions support, installation support, medical facilities, and ordnance and explosives. Unlike the USACE's traditional organizations, the Huntsville Center is not tied to geographic boundaries.About Tetra Tech (www.tetratech.com)Tetra Tech is a leading provider of consulting, engineering, program management, construction, and technical services addressing the resource management and infrastructure markets. The Company supports government and commercial clients by providing innovative solutions focused on water, the environment, and energy. With approximately 10,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle.Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.

Defense News ~ BERLIN, Jan 15 (Reuters) - The countries that have ordered the A400M transporter plane are sticking to the project "but not at any price", a German Defence Ministry spokesman said on Friday.Officials from the seven countries agreed at a meeting in London on Thursday evening "on a joint position on how to proceed".The A400M's future has been threatened by an 11 billion euro or 55 percent blow-out in development and production costs, overshadowing a successful maiden flight carried out last month.The countries wanted to invite the plane's manufacturer, Airbus, and its parent EADS (EAD.PA), in the coming days to a meeting to find an acceptable solution to the problem by the end of January, the spokesman added. (Reporting by Gernot Heller)